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What's your favourite Somersoft thread?; Somersoft Property Investment Forums mass delusions
Topic Started: 18 Mar 2011, 10:48 AM (30,737 Views)
lextsy
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Frank Castle
25 Aug 2011, 10:51 AM
From the same thread



Sounds like the sense of entitlement whiners here

It would be interesting to know exactly how much money this guy has started with.. It is all fine to buy property in slumps if you have it, and not borrowing it all.
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Sunder
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lextsy
25 Aug 2011, 12:52 PM
It would be interesting to know exactly how much money this guy has started with.. It is all fine to buy property in slumps if you have it, and not borrowing it all.
Little confused about that. Yes, there is some psychological difference about losing a borrowed dollar vs losing your own dollar, but I guess economically, it's more or less the same risk, isn't it? Was it a good investment, or wasn't it?
Property speculation is a type of gambling... But everyone knows that in gambling, the house always wins in the end.
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Mahamed
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Morbidly Obese

Sunder
25 Aug 2011, 02:11 PM
Little confused about that. Yes, there is some psychological difference about losing a borrowed dollar vs losing your own dollar, but I guess economically, it's more or less the same risk, isn't it? Was it a good investment, or wasn't it?
Either way those investors must be regretting taking on so much , debt or no debt..........
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raveswei
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Sunder
25 Aug 2011, 02:11 PM
lextsy
25 Aug 2011, 12:52 PM
It would be interesting to know exactly how much money this guy has started with.. It is all fine to buy property in slumps if you have it, and not borrowing it all.
Little confused about that. Yes, there is some psychological difference about losing a borrowed dollar vs losing your own dollar, but I guess economically, it's more or less the same risk, isn't it? Was it a good investment, or wasn't it?
There is a big difference between losing money and losing borrowed money, the difference is called interest.

http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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Shadow
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Evil Mouzealot Specufestor

Mahamed
25 Aug 2011, 09:52 PM
Either way those investors must be regretting taking on so much , debt or no debt..........
It's called delayed gratification. Times might be tough for those investors now, but I bet in 10 years time they're sitting pretty with a stack of high-worth income producing assets. A little sacrifice now will result in an early retirement and easy life for them later.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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schooner
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Shadow
26 Aug 2011, 09:35 AM
Mahamed
25 Aug 2011, 09:52 PM
Either way those investors must be regretting taking on so much , debt or no debt..........
It's called delayed gratification. Times might be tough for those investors now, but I bet in 10 years time they're sitting pretty with a stack of high-worth income producing assets. A little sacrifice now will result in an early retirement and easy life for them later.
I wouldnt bet on that sunshine.
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muzza
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Some more observations from the true believers....

http://www.somersoft.com/forums/showthread.php?t=73857
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BubbleTrouble
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muzza
10 Sep 2011, 04:18 PM
Some more observations from the true believers....

http://www.somersoft.com/forums/showthread.php?t=73857
I was wondering when that thread was going to pop up here, you vulture muzza! :excited: :D

On a side note, I went to an auction in my local area today for shits and giggles. There were two registered bidders and the first bid came after much coaxing and a box of chocolates prize of $500K. Next bid was $510K and that was it from the true bidders. Of course, a good ole vendor bid came out at a preposterous $580K followed by encouragement for a next bid "in the 600's" from the crowd to the sound of muffled laughter. Property passed in and the $510K bidder was encouraged to go inside for some wallet massaging. Entertaining stuff indeed!
Edited by BubbleTrouble, 10 Sep 2011, 10:21 PM.
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muzza
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BubbleTrouble
10 Sep 2011, 10:21 PM
I was wondering when that thread was going to pop up here, you vulture muzza! :excited: :D

Yes BT, must confess I have been treating myself to a little schadenfreude whilst lurking at somersoft. :D
My favorite reply was from someone who, having heard how the poor souls were hemorrhaging money because of their dud investment, offered...

"I think the most important thing you can take from this is not to lose heart in property investment because you got ripped off once. There's more than one way to make money from property. "
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raveswei
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muzza
11 Sep 2011, 02:02 PM
Yes BT, must confess I have been treating myself to a little schadenfreude whilst lurking at somersoft. :D
My favorite reply was from someone who, having heard how the poor souls were hemorrhaging money because of their dud investment, offered...

"I think the most important thing you can take from this is not to lose heart in property investment because you got ripped off once. There's more than one way to make money from property. "
there is a www.gamblinghelponline.org.au and it is time to make www.propertyinvestinghelponline.org.au
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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